UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Weatherford International Ltd. on Improving Prospects

In a report published Monday, Credit Suisse analyst James Wicklund reiterated a Neutral rating on Weatherford International Ltd.

, and raised the price target from $11.00 to $13.00. In the report, Wicklund noted, “Weatherford is a very controversial stock and there continue to be issues of contention. Target price raised to $13 from $11. Feeling better. Investor concern was partially alleviated by comments on improving working capital metrics which are as important as the operating income results. Business is still good. Excluding the corporate ‘disruption,' the operating business has done well. Revenue growth and margins have generally been competitive with peers. WFT has 50,000 people working in over 100 countries with an enterprise value of $17 billion. The market expects growth this year and well into next year with consensus expecting 21% EBITDA growth in 2014.” Weatherford International Ltd. closed on Friday at $13.47.